Rick Isenhower, 3rd from the left.
Choosing the right banking partner is a pivotal decision for brokers and developers. Rick Isenhower, VP and Senior Commercial and Ag Lender at First Farmers Bank & Trust, offers invaluable advice drawn from his unique blend of agricultural and banking experience.
1. Prioritize Local Decision-Making
First Farmers Bank & Trust prides itself on making decisions locally. This means brokers and developers can expect faster responses and more personalized service. Local decision-making ensures that the bank understands the community’s needs and can tailor solutions accordingly. It’s crucial to choose a bank where decisions are not bogged down by distant, detached corporate offices but are made by individuals who know and care about the local context.
2. Look for a Bank with a Community Feel
Despite its size, First Farmers maintains a community bank feel. This translates to more than just friendly service; it means building genuine relationships with clients. Rick emphasizes that at First Farmers, bankers take the time to understand their clients’ needs and goals, fostering a partnership that goes beyond transactions. This relational approach can be particularly beneficial for brokers and developers who often require nuanced, tailored financial solutions.
3. Value Expertise Beyond Banking
One of the distinguishing features of First Farmers is its commitment to hiring leaders with diverse backgrounds. Rick himself was a farmer before transitioning into banking. This kind of expertise allows bankers to offer well-rounded, impactful advice that takes into account the broader picture of a client’s project or business. When choosing a bank, look for one that values such varied experiences, as it can provide deeper, more meaningful insights and solutions.
4. Seek a Holistic Approach
First Farmers Bank & Trust champions a holistic approach to banking. Rather than viewing interactions as mere transactions, they aim to create value through personal experience and expertise. Rick’s approach exemplifies this; he lends not just money, but also his personal experience, making him relatable and rooting for his clients’ success. This holistic view can significantly enhance the support and value brokers and developers receive.
Myths About Banking with a Larger Community Bank
There are several misconceptions about banks like First Farmers that Rick is keen to dispel:
Myth: Banking Takes Forever
Reality: While it’s a common belief that banking processes are slow, Rick points out that delays are often due to external factors, not the bank itself. First Farmers’ local operations ensure that things move quickly and efficiently.
Myth: Bankers Are Just Bankers
Reality: At First Farmers, bankers are more than just financial professionals; they are community members who build lasting relationships with clients. They invest time in getting to know you and your business, ensuring tailored support.
Myth: Predatory Relationships
Reality: First Farmers believes in true partnerships, focused on growing with clients throughout their business or personal journey. It’s about nurturing success over the long term, not just facilitating one-off transactions.
In summary, brokers and developers should seek out banking partners like First Farmers Bank & Trust that offer local decision-making, a community feel, diverse expertise, and a holistic approach to client relationships. These qualities not only ensure smoother project completions but also foster growth and success in the long run.
